BUZZ-NXP shares slide premarket after weak Q2 results

Reuters

07/22

BUZZ-NXP shares slide premarket after weak <a href="https://laohu8.com/S/QTWO">Q2</a> results

** Shares of NXP Semiconductors NXPI.O fall 5.8% to $215 in premarket trading on Tuesday

** Co reported a 6% drop in its Q2 revenue, hurt by weakness in communications and infrastructure segment amid broader market softness

** Analysts at Jefferies say they are cautious on auto stocks for now, as the market deals with high inventory levels and growing competition from China

** Revenue fell to $2.93 bln, compared to $3.13 bln a year ago

** Co expects Q3 revenue between $3.05 bln and $3.25 bln, with the midpoint coming above analysts' estimates of $3.07 bln, according to data compiled by LSEG

** NXPI up ~10% YTD

(Reporting by Rashika Singh in Bengaluru)

((Rashika.Singh@thomsonreuters.com;))

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